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I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available.
As a reminder:
Anyway, on to the group's predictions for the next 30 days:
I am predicting that rates will increase over the next 30 days, but that doesn't mean you should necessarily follow my advice when choosing whether to lock a rate, or float it. My advice may not be appropriate for your individual situation.
From the Bankrate.com survey:
"Mortgage rates should be falling, but because of Fannie and Freddie's new risk-based price changes, most mortgage applicants are about to get jacked by one percent increases or more."
I haven't written about this yet but you can read the official announcement -- it's rife with mumbo-jumbo. Reach out if you'd like some clarification.
Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator call 513-443-2020.
Bonus: Click to get a free, no-obligation rate quote. I love to work with my readers!
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